Ever since the DeFi sector became popular in early 2020, new projects have been emerging all over the world. Ethereum is still the primary platform for DeFi development, but so far, DeFi has spread out to many other blockchains, too.
However, despite all its popularity, DeFi is still new, and with most projects rushing to offer their solutions to people while they are interested, not a lot of projects worked on creating a DeFi-specific launchpad, especially not for those protocols whose developers choose to stay anonymous. As a result, every project is left to fend for itself, or use generic crypto launchpads. But, just like DeFi tokens are not typical cryptos, typical launchpads are just not good enough, especially since developers are busy with preparing the project and often working with a limited budget to take care of things like advertisement and building a community from scratch.
This is why a launchpad created specifically for DeFi protocols is just what the sector needed to take the next step in its development, and DeFiDrop emerged to deliver a solution.
What is DeFiDrop?
DeFiDrop is a new project that offers a DeFi-focused launchpad for all future DeFi protocols in need of it. More than that, it also offers a project incubator that will help teams that show promise in areas such as technology, design, and innovation. DeFiDrop will partner with selected projects that fulfill these criteria in order to help them get started and get on their feet.
The project was audited by Hashex, and its funds are locked with CryptEx Locker, for extra security. But, this is not the only big name with which the project collaborates. It is also partnered with UniMex, DeFiBoost, CryptEx, and HashEx. Meanwhile, it trades on PancakeSwap, one of the major DEXes in the DeFi world.
The kind of services that it offers would be particularly useful for projects with anonymous teams, which are often distrusted for this lack of transparency. Anonymity is one of the things that initially attracted people to crypto, but at the same time, people don't feel confident about anonymous developers, thinking them incompetent or untrustworthy.
However, if such projects launch their tokens through a trusted launchpad - which is what DeFiDrop aims to become - and receive help in funding and getting started, then chances are that more people will be willing to give them a chance.
Things you should know about DeFiDrop
DeFiDrop also comes with a unique set of features, including DROPS token staking and LP staking programs, token buybacks and burning events using the IDO/incubator fees, cross-chain IDOs and fees, IDO governance for DROPS stakers, cross-chain token listings and atomic swaps, and more.
Speaking of the DeFiDrop token, the project recently held a private sale that was extremely successful. The protocol offered 7.5 million DROPS tokens, which were sold out completely in under two minutes, indicating great interest in the project, its launchpad, and other features and benefits that it has to offer.
The coins were sold for a total of $750,000. However, that is not all, as the project also held a public presale, which was also completed extremely quickly. This time, the project sold 20 million tokens, which were sold out within a single day.